By looking at 'Bar 1' on the chart, we see that the buyers are probably exhausted. The volume is large, and the result does not correspond to it. It could be a sign of buyer's weakness. Anyway, the buyers still can't pass the resistance level, so I'll try to sell with small SL. Good risk-reward ratio.
Note
The sellers still have time, about 11 hours according to Hurst cycles. Well, this is just a theory, but in my case it should be correct (I predicted 4 weeks already with good correlation, but the cycle could end at any moment).Don't forget to move your stop loss.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.